Midday Highlights: EV Stocks on Fire & $10 Bargains to Watch

The S&P 500 edged higher on Tuesday as investors weighed the potential impact of President-elect Donald Trump's newly proposed tariffs. Market participants remained cautious but optimistic, focusing on upcoming economic data for direction.

As of, 11:40 AM ET, the Dow was down -150.92 points, or -0.34%, at $44585.66. The Nasdaq Composite added 82.6426 points, or 0.3972%, at $20887.535. The S&P 500 rose 22.72 points, or 0.3795%, at $6010.1. Among the 11 major S&P 500 sectors, 8 showed positive movement, with Utilities leading the way with a 2.71% increase.

Later today, attention will turn to the Federal Reserve’s meeting minutes, which are set for release at 2 p.m. ET and offer key insights into the central bank’s future monetary policy plans.

With the U.S. market closed on Thursday for Thanksgiving and an early close on Friday, trading volumes are expected to thin, keeping this shortened holiday week relatively subdued.

Top Movers: Under $10

Poseida Therapeutics Inc (PSTX) is up 228.32% today to trade at the current level of $9.39. This comes after the company announced an agreement to be acquired by Roche Holdings, Inc.

TOYO Co Ltd (TOYO) zoomed 63.79% in today’s trade to $4.75 after announcing the execution of a significant contract valued at $150 million to supply high-efficiency solar cells to a prominent solar module manufacturer.

In current trading, TransCode Therapeutics Inc (RNAZ) stock is at $0.40 following the declaration of 1-for-33 reverse stock split.

LexinFintech Holdings Ltd ADR (LX) rose 23.53% in the early hours of today's trading to move at $4.20 after announcing its unaudited financial results for the quarter ended September 30, 2024.

In the current trading session, Cadiz Inc (CDZI) jumped 12.89% to $3.94 over a previous close of $3.49 after announcing that the Company and the Lytton Rancheria of California have signed a Letter of Intent for Lytton to invest up to $50 million in the Company's groundwater banking project in the Mojave Desert.

Ex-Dividends Stocks

Home Depot, Inc (HD) is about to trade ex-dividend tomorrow, meaning that investors who buy the stock after tomorrow will not be eligible for the next dividend payment. The company's next dividend payment will be $2.25 per share. It has fixed November 27 as the record date for the same and will pay the actual dividend on December 12. Last year, the company distributed a total of $8.84 to its shareholders. Based on the last year's worth of payments, HD has a trailing yield of 2.08% on the current stock price of $425.11.

Shares of Kinross Gold Corp (KGC) will be the talk of the stock market on Wednesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.03 per share, and in the last 12 months, it paid a total of $0.12 per share. Last year's total dividend payments show that KGC has a trailing yield of 1.21% on the current share price of $9.88.

Tomorrow, Newmont Corp (NEM) is also set to go ex-dividend tomorrow. The next dividend payment from NEM will amount to $0.25 per share. November 27 has been designated as the record date for this dividend, with the actual payout scheduled for December 23. In the previous year, NEM distributed a total of $1.15 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for NEM stands at 2.73% based on the current stock price of $42.20.

T-Mobile US Inc (TMUS) will be paying out a dividend of $0.88 per share to shareholders holding their shares as of the close of the business hours on the record date of February 28. Over the past 12 months, TMUS has paid out a total of $2.60 per share in dividends. Based on the total dividends paid out last year, TMUS boasts an impressive trailing yield of 1.07% on the current share price of $243.71.

Crypto Market Highlights

• Morocco is reportedly planning to legalize all cryptocurrencies after a 2017 ban, with the central bank, Bank Al-Maghrib, reviewing a draft law for cryptocurrency regulation.

• Starknet, an Ethereum layer-2 scaling solution, launched the first phase of its staking mechanism, enabling STRK token holders to stake and enhance network security.

• Cryptocurrency ownership is growing in the UK, with over 12% of adults holding crypto, prompting increased regulatory focus from the Financial Conduct Authority (FCA).

• As Europe approaches the Markets in Crypto-Assets Regulation (MiCA) deadline, Schuman Financial, a firm founded by ex-Binance executives, launched a new euro-pegged stablecoin, EURØP.

• LimeWire, the popular early 2000s peer-to-peer file-sharing platform, returns with a decentralized file-sharing feature powered by BNB Greenfield, enabling global encrypted file transfers.

Most Shorted Stocks

Childrens Place Inc (PLCE) was one of the most shorted stocks as of the latest short interest figures, with 63.20% short interest. The days to cover ratio, a measure of how long it would take for all the short positions to be covered based on average trading volume, is 1.3. This represents a change of 340000 shares, which corresponds to a +12.59% increase in short interest. The total value of the shares held short is estimated to be around $46.03 million. The average daily volume stands at 2.38M shares, and the market capitalization of the company is $192.55M.

The Arcutis Biotherapeutics Inc with the symbol ARQT currently has a short interest of 23.72%. The short interest has changed by -300000 shares. The days to cover ratio stands at 13.1. The estimated value of the shares held short is approximately $303.97 million. On an average day, 1.96M shares are traded, with the company's market capitalization totaling $1.28B.

For the stock Biomea Fusion Inc (BMEA), the current short interest is at 30.19%. This represents a significant short interest change of 290000 shares, corresponding to a short interest percentage increase of +3.54%. The days needed to cover the short positions amount to 11.0. The approximate worth of the shares held short is $62.5 million.

With the symbol LMND, the stock currently has a short interest of 30.30%. The short interest change is -360000 shares, compared with a short interest percentage change of -2.25%. It would take approximately 10.5 days to cover all the short positions. The shares short value is estimated to be around $424.76 million. The company boasts an average daily volume of 2.02M shares, contributing to a market capitalization of $3.58B.

The stock RXRX has a current short interest of 27.97%. The short interest percentage has experienced an increase of +5.03% while there was a change of 2990000 shares in short interest. The ratio indicating the time required to cover short positions is 12.7. The calculated worth of the shorted shares amounts to around $93.12 million. Trading activity averages at 5.84M shares per day, while the company's market capitalization stands at $2.31B.

EV Stocks to Watch

According to our ST Score evaluation, Cirrus Logic, Inc (CRUS) emerges as a high-quality stock in the EV industry, attaining an impressive score of 63. The stock's profitability, financial strength, and Piotroski Score are strong. However, its growth are weak. Additionally, it is neutral in terms of performance, stock sentiment, and forecast.

Our ST Score also classifies Aehr Test Systems (AEHR) as a high-quality EV stock today, presenting a Score of 62. The stock has strong fundamentals in terms of profitability, financial strength, and Piotroski Score. However, it has weak performance, stock sentiment, and forecast. The growth is neutral.

Another stock in the category, Hyliion Holdings Corporation (HYLN) has the ST Score of 57, which means that the stock carries the potential for higher returns. The stock is strong in performance, and financial strength but weak in profitability, stock sentiment, and forecast. Growth, and Piotroski score suggest a neutral outlook.

BorgWarner Inc (BWA) stock has the ST Score of 56 which implies that the EV company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, and Piotroski Score, but its weaknesses are in its financial strength. However, it shows a neutral outlook in growth, stock sentiment, and forecast.

FREYR Battery Inc (FREY) currently has the ST Score of 56, which signifies a huge upward potential. The EV stock's strong points are its performance, and financial strength, while its weak points are its growth, stock sentiment, Piotroski Score, and forecast. The stock's profitability indicates a neutral outlook.

That's it for today. Thanks for reading. Good luck out there!

Best Regards,

Stocks Telegraph Team

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